Mr. Speaker, the future of beer brewing belongs to craft breweries. Over the last ten years, Canada has witnessed a craft brewery boom as hundreds of these small businesses have sprung up across the country. Demand for a unique, locally sourced, craft beer grows exponentially year after year and, as a result, craft breweries have become a vital aspect of any city's economy.
In Alberta, craft brewers actually employ more people than the oil and gas industry. Thanks to the great talent of these brewers, the ability of these locally produced beverages to compete with the products of big namebrands instills a sense of local pride and purchasing them guarantees a strong investment back into the community.
Here in the North, it is no surprise that we have a highly esteemed craft brewer of our own, the NWT Brewing Company. Based in Yellowknife and established by a team of young entrepreneurs, the NWT Brewing Company produces a diverse array of products sold across Canada, and their continued success contributes greatly to the North's tourism and hospitality industry. They have quickly become a staple in our community, providing dozens of workers good paying jobs and generating thousands of dollars each month into our local economy.
Unfortunately, Mr. Speaker, the Northwest Territories remains well behind the curve when it comes to welcoming these brewers into the economy. And so the NWT Brewing Company struggles with outdated policies and regulations that other provinces and territories have updated. Furthermore, the NWT Brewing Company is dealing with skyrocketing inflation as the cost of some ingredients needed to produce their beverages have recently jumped by 80 percent. Together, these circumstances, along with high taxes, threaten our local craft brewing industry and only the territorial government has the power to create the economic environment they need to thrive.
Mr. Speaker, I know we all want to keep the NWT Brewing Company in business producing tasty beverages of a sociable nature here in the Northwest Territories. Then that means giving them the runway they need to expand their production and keep their prices competitive so they can grow their market share and compete with bigger brands, not just in the North but across Canada. The Minister and I have had extensive meetings on the subject, but now is the time to see words turned into action. Let's act today to modernize our policies so our craft brewers can be confident that their future is here in the Northwest Territories. Thank you, Mr. Speaker.
Thank you, Member from Range Lake. Members' statements. Member from Sahtu.
